Are you looking for agricultural loans for your business? If yes, then this Stockman Bank mortgage review will help you in this regard. This mortgage company was established in 1953 and has its headquarters in Montana.

This is one of the best companies for agricultural loans, having more than 100 ATMs covering the entire state. It has been ranked as the 18th biggest agricultural lender in the U.S. Mostly, farmers and ranchers apply for its loans.

If you are a first-time home buyer, then this company will suit you best. They provide government-approved loans with average interest rates. The company claims to provide the best services to its customers with commercialized lenders.

Interested to know more? Continue to read this Stockman Bank mortgage review.

A Quick Stockman Bank Review

In 2022, the Stockman Bank was ranked with ⅘ stars on the Zillow app. It has been working efficiently for the last few years, and its customers seem to be highly satisfied with their services. Only one or two complaints were found in its record from the past two years.

The online website does allow you to submit customer reviews, but the official Zillow report showed a great response. The majority of customers appeared to be highly persuaded by their loan options. The professional workers are really helpful, knowledgeable, and patient towards their customers' needs.

The customers seem to be highly satisfied with the Stockman Bank Mortgage servicing, and very few filed complaints regarding their services. The online customers submitted an overwhelmingly positive response towards their policies. It is not a completely digital mortgage.

A few complaints that were filed against the Stockman Bank included issues with payments. These were later resolved by the company. The staff is quite understanding and efficient. They claim to fulfill the customer's needs and demands on time.

Pros of Stockman Bank

• The stockman bank is an ideal option for agricultural purposes.
• The company specializes in mortgage refinancing, lines of credit, and real estate loans.
• This bank is family-owned and can take the local credit conclusions.
• It allows special options for first-time home buyers through special programs.
• The company promotes the down payment programs by various partners.
• They offer online as well as physical branches to deal with their customers.

Cons of Stockman Bank

• The company is confined to the selected areas and does not provide services outside.
• Their online website lacks the programming details about the loan types and interest rates.
• You have to call the loan officers if you have any confusion regarding the loan.

The Stockman Bank Services and Criteria

The Stockman Bank offers various loan types including FHA loans, VA loans, USDA loans, Jumo, and conventional loans. The company has not set the eligibility criteria too high. You can qualify with an average credit score and history.

The stockman company agrees to receive the mortgage refinance requests. It offers comfortable services to its customers by lowering the interest rates and considering the people's needs. They can modify their policies according to their customers' demands.

Requirements

We suggest you to once visit the online website of Stockman Bank for more details. The eligibility criteria for stockman bank loans are not very difficult. Although, you have to fulfill the requirements and standards they have set.

You have to show residency proof in WY, ND, or MT. The FICO credit score must be a minimum of 640 to qualify for an agricultural loan. Moreover, you will need an employment history of at least 2 years along with no bankruptcy history in the previous two years.

Documentation

There are some necessary documents the company asks its customers for. These include employment history, the most recent report of tax return, assets and debts list, and your ID issued by the state. Moreover, you have to submit the pay stubs and W-2 statements for the last two years.

The documentation for self-employed people is a little different. They will need almost 1099 statements for the last two years, the most recent report of tax return, and the balance sheet of the year-to-date statements of profit and loss.

Costs and fees

According to the Stockman Bank mortgage calculator, the origination fee depends on the circumstances of the borrower. The minimum loan charge is 1% and it may negotiate with the customer's circumstances. The customers showed a positive response towards their fees and other charges.

You must be mentally prepared to pay the total loan fee along with the closing cost fee from 1% to 4%. These additional charges include home appraisal charges, credit report charges, closing fees, escrow fees, insurance and title search charges, and flood certification charges.

How to Apply for a Mortgage with Stockman Bank

To proceed with your application, you must seek guidance from the loan officer. If you want to apply for a home loan through their website, then follow the below-mentioned steps. The website options are not so difficult to use.

1. Open the online website of Stockman Bank and select the home loan option. You will find the text 'Apply Now'. Click on it to apply.
2. It will ask you some questions regarding the loan, like why you need the loan and which type of loan you want. Answer them wisely.
3. A page will open that will require your details about property information and personal information. Enter the data there.
4. You can apply for a credit check by attaching your application. If you wish to have a credit report, then select the given option.
5. Enter the necessary information about other expenses and liabilities. Agree with the consent process by clearly understanding their terms.
6. The website will ask you about some declarational and demographic questions. Fill these details with great care, as a small mistake can cause damage.
7. Review your application thoroughly. Then, submit it by clicking on the 'submit' option and hold your patience until a loan specialist contacts you.

Conclusion

This Stockman Bank mortgage review shows that this company offers the best agricultural loans to its customers. The borrowers are satisfied with their services. You can apply through their online website as well as by going to any of the nearby branches.